Dave Meyer: Build Your Real Estate Empire with Smart Investing | Entrepreneurship | E326

Young and Profiting with Hala Taha

YAP Media Network | Hala Taha

Business, Entrepreneurship, Marketing

4.8 • 1.5K Ratings

🗓️ 30 December 2024

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

When Dave Meyer graduated in 2009, the job market was bleak. Inspired by a friend who found success buying a single-family home, he decided to give real estate a shot. Although Dave was unable to qualify for a loan on his waiter’s salary, he managed to secure his first property using creative financing. He continued to spend his spare time managing his properties until his tech startup failed in 2016. At that point, he decided to focus on real estate, combining his experience with his data science skills to build a thriving career at real estate platform, BiggerPockets. In this episode, Dave explains how anyone can start and scale a real estate portfolio. He also shares tips and strategies to navigate today’s housing market. In this episode, Hala and Dave will discuss: (00:00) Introduction to Real Estate Investing (01:52) Why Real Estate is a Smart Investment (05:50 Understanding Cash on Cash Return (06:29) Real Estate as Entrepreneurship (07:40) Dave's Real Estate Journey (18:29) Managing Real Estate Investments (25:59) Economic Considerations in Real Estate (29:32) Understanding Depreciation and Tax Benefits (32:31) Exploring Hot Real Estate Markets (34:14) Overcoming Real Estate Investment Fears (37:35) Quick Fire: Pros and Cons of Different Deal Types (41:39) The Appeal of Commercial Real Estate (44:03) Development and Lending in Real Estate (48:43) Final Thoughts and Advice for Aspiring Investors Dave Meyer is a seasoned real estate investor and the Vice President of Data and Analytics at BiggerPockets. With more than 14 years of experience, he has grown a thriving real estate portfolio, starting with a fourplex he bought at age 23. Dave has authored notable books like Real Estate by the Numbers and Start with Strategy, where he combines his analytical expertise with actionable advice for investors. As the host of two popular podcasts, On the Market and the BiggerPockets Real Estate Podcast, Dave educates listeners on smart investing strategies. Known for developing tools like the Market Finder, he has made data-driven decision-making more accessible for investors. Resources Mentioned: Dave’s Books: Start with Strategy: Craft Your Personal Real Estate Portfolio for Lasting Financial Freedom: amzn.to/3ZLMG6e Real Estate by the Numbers: A Complete Reference Guide to Deal Analysis, written with J Scott: amzn.to/4fo4BFY BiggerPockets: biggerpockets.com On the Market Podcast: youngandprofiting.co/3OZKWS5 BiggerPockets Real Estate Podcast: apple.co/4fpTZGo Sponsored By: Airbnb - Your home might be worth more than you think. Find out how much at airbnb.com/host Found - Try Found for FREE at found.com/profiting Shopify - Sign up for a one-dollar-per-month trial period at youngandprofiting.co/shopify Active Deals - youngandprofiting.com/deals Key YAP Links Reviews - ratethispodcast.com/yap Youtube - youtube.com/c/YoungandProfiting LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new All Show Keywords: Entrepreneurship, entrepreneurship podcast, Business, Business podcast, Self Improvement, Self-Improvement, Personal development, Starting a business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side hustle, Startup, mental health, Career, Leadership, Mindset, Health, Growth mindset. Finance Finance, Financial, Personal Finance, Wealth, Stock Market, Scalability, Investment, Financial Freedom, Risk Management, Financial Planning, Business Coaching, Finance podcast, Investing, Saving, Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Real estate is not that complicated. 90% of the rental properties in the United States are owned by people with one to 10 properties. These are just normal people who are doing this. And the amazing thing about real estate investing is that... Why would you say that real estate investing is actually entrepreneurship? Because even if you buy a relatively simple type of real estate investment, you got to do something.
0:25.8	You have to find tenants. You have to run the books. You need to be a good property manager.
0:30.3	Provide a quality place to live. To me, that's running a small business.
0:34.6	What are some of the tax benefits that people can get from real estate?
0:38.1	The most common one is just known as...
0:40.3	Yap, gang, I was today years old when I learned that real estate investing was really just entrepreneurship.
1:02.9	I learned this from Dave Mayer, the guest of today's episode.
1:06.5	Dave is the VP of Data and Analytics at Bigger Pockets, the host of the popular on-the-market podcast,
1:12.7	and the author of the new book, Start with Strategy. Whether you're a seasoned investor or
1:17.7	want to start real estate as a side hustle, Dave is going to give us a masterclass in
1:22.6	real estate investment, economic considerations, and an overview of deal types so that you can figure out the
1:28.6	investment strategy that's right for you. Let's jump right into this amazing conversation with
1:34.9	Dave Mayer on real estate. Dave, welcome to Young and Profiting Podcast.
1:40.2	Alla, thanks so much for having me. I'm really excited to be here. Yeah, likewise, I can't wait to learn everything about real estate.
1:47.4	You're so knowledgeable about the topic.
1:49.9	And so I want to start with a big picture question.
1:52.4	I want to understand why you feel like real estate is a good option to invest in over other assets,
1:59.8	because I've heard you say in the past that you should
2:02.7	get as many real estate assets as you can as young as you can. So why do you believe that?
2:08.6	Real estate is such a unique asset class and I do believe that acquiring assets, particularly
2:14.2	hard assets like real estate when you're young is super beneficial. I'll just name
2:18.3	a couple of the reasons I like. First and foremost, I am very entrepreneurship, as I know you,
	...

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